NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

SUMMER INSTITUTE 2000

CORPORATE FINANCE

Steven Kaplan and Luigi Zingales, Organizers

Royal Sonesta Hotel

5 Cambridge Parkway

Cambridge, Massachusetts

August 7-8, 2000

PRELIMINARY PROGRAM

MONDAY, AUGUST 7:

8:30 AM	Coffee and Doughnuts

9:00 AM	DAVID GOLDREICH and FRANCESCA CORNELLI, London Business School

Bookbuilding: How Informative is the Order Book?

Discussant: IVO WELCH, UC, Los Angeles

10:00 AM	JOSHUA LERNER and PAUL GOMPERS, Harvard University and NBER

The Really Long Run Performance of IPOs- the Pre-NASDAQ Evidence

Discussant: To be Announced

11:00 AM	Break

11:30 AM	HENRI SERVAES and KEITH BROWN, London Business School

Roll-ups: Performance and Incentives for Industry-Consolidating IPOs

(Joint with DITTMAR and WILES)

Discussant: GREGOR ANDRADE, Harvard University

12:30 PM	Lunch

2:00 PM	THOMAS HELLMAN and MANJU PURI, Stanford University

Venture Capital and the Professionalization of Start-up Firms:

Empirical Evidence

Discussant: PER STROMBERG, University of Chicago

3:20 PM	BRIAN HALL, Harvard University and NBER

KEVIN MURPHY, Harvard University

Stock Options for Undiversified Executives: Valuations and Incentives

Discussant: JEREMY STEIN, MIT and NBER

4:20 PM	Adjourn

6:00 PM	Group Dinner

Harvard Faculty Club

20 Quincy St.

Cambridge, MA

TUESDAY, AUGUST 8:

8:30 AM	Coffee and Doughnuts

9:00 AM	RAGHURAM RAJAN, University of Chicago and NBER

MITCHELL PETERSEN, University of Chicago

Does Distance Still Matter? The Information Revolution

In Small Business Lending?

Discussant: R. GLENN HUBBARD, Columbia University and NBER

10:00 AM	RAYMOND FISMAN and MAYANK RATURI, Columbia University

Product Market Competition and Credit Provision

Discussant: CHRIS JAMES,

11:00 AM	Break

11:30 AM	EDITH HOTCHKISS, Boston College

DEON STRICKLAND, Ohio State University

Does Shareholder Composition Affect Stock Returns?

Discussant: KENT DANIEL, University of Chicago and NBER

12:30 PM	Lunch

2:00 PM	JOHN GRAHAM, Duke University

Does Corporate Diversification Destroy Value?

(Joint with LEMMON and WOLF)

Discussant: OWEN LAMONT, University of Chicago and NBER

2:30 PM	Break

3:20 PM	ANDREI SHLEIFER, Harvard University and NBER

DANIEL WOLFENSOHN, Harvard University

To Be Announced

Discussant: DAVID SCHARFSTEIN, MIT and NBER

4:20 PM	Adjourn	05/30/00